Robinhood Markets (NASDAQ:HOOD) PT Raised to $21.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its target price upped by investment analysts at The Goldman Sachs Group from $19.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 5.75% from the company’s current price.

A number of other analysts have also commented on the stock. Sanford C. Bernstein initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective on the stock. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Wednesday, June 26th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, June 6th. Barclays boosted their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.10.

Robinhood Markets Stock Performance

Shares of HOOD opened at $22.28 on Thursday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.28. The firm’s 50 day moving average price is $21.11 and its two-hundred day moving average price is $17.13. The firm has a market cap of $19.58 billion, a P/E ratio of 148.53 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s revenue was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. On average, sell-side analysts anticipate that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the transaction, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the transaction, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $17.16, for a total transaction of $286,005.72. Following the completion of the transaction, the director now owns 36,045 shares in the company, valued at $618,532.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,494,233 shares of company stock worth $29,762,641 over the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Spire Wealth Management bought a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. lifted its holdings in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter valued at approximately $34,000. Opal Wealth Advisors LLC bought a new position in Robinhood Markets in the 2nd quarter valued at approximately $45,000. Finally, GAMMA Investing LLC raised its holdings in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.